Kalthoum Sfar

Saudi Electronic University, Saudi Arabia

Title: Demographic Dynamics of Aging and Economic Restructuring – Challenges and Opportunities

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Biography

Kalthoum Sfar holds a Doctorate in Economic Demography, specializing in the relationship between demographic growth and economic development, which she earned in 2011 from the University of Humanities and Social Sciences in Tunisia. Currently, she serves as an Assistant Professor at Saudi Electronic University in Saudi Arabia. She is a member of several professional organizations, including the European Association for Population Studies in the Netherlands, the International Studies Association, and the Institute of International Relations in Tunisia. She is actively engaged in research, with a paper titled "The Nexus Between Demographic Factors and Economic Development in the Kingdom of Saudi Arabia" currently in progress. Additionally, she has published a research paper on "The Role of Education in Economic Development in Saudi Arabia," scheduled for release in July 2024, as well as an article titled "The Extent of Employing Smart Education Strategies in Saudi Universities," which appeared in the International Journal of Educational Research and Development in January 2024.

Abstract

The aging populations are changing global economies, with notable effects on technology, housing, healthcare, and labor markets. In addition to posing problems like growing healthcare costs, worker shortages, and a rise in the need for age-appropriate housing and the technology sector, this demographic shift also offers economic expansion and innovation, which is vital for the demands of aging populations.

This study aims to investigate the economic implications of aging populations using statistical software, SPSS (version 26), to identify trends, relationships, and projections across key sectors, including healthcare, housing, labor markets, and technology.

Data from interviews and surveys were conducted to collect healthcare expenditure reports, and labor market statistics, healthcare providers, industry experts, and technology innovators through Google Sheets. SPSS-based descriptive statistics were applied to summarize key trends, while regression analysis and multivariate modelling explored relationships between aging populations and economic outcomes. P-values were used to test statistical significance (significant: P<0.05, P<0.01, and insignificant: P>0.05, P>0.01)

The results showed a significantly positive relationship between aging populations and healthcare spending (P<0.01), with regions showing an increase of 25% in healthcare expenditures. Housing demand exhibited a significant positive trend (P<0.05), with an increase of 30% driven by age-appropriate housing and smart home technologies. The demand for skilled eldercare workers was projected raised by 40%, and upskilling initiatives significantly increased labor force participation in older adults (P<0.01). The technology sector showed highly significant growth (P<0.01), with an increase of 35% driven by innovations in age-tech solutions such as technology aids and smart home devices.

The findings highlight how crucial data-driven approaches are mitigating the financial effects of aging populations, especially with technological innovation, and the necessity of integrated solutions across healthcare, housing, labor markets, and technology, the study emphasizes the crucial role of technology industry in reducing obstacles and creating chances for economic growth.